Promote potential partner's report on latest developments (6)
I believe the answer is:
update
'report on latest developments' is the definition.
(a report with latest information)
'promote potential partner's' is the wordplay.
'promote' becomes 'up' (up can mean to promote or increase).
'potential partner' becomes 'date' (date can mean someone you're on a date with).
'up'+'date'='UPDATE'
(Other definitions for update that I've seen before include "Supply latest info" , "Renew" , "Brief" , "Latest news" , "Bulletin" .)